Question

Calculate Payroll Breakin Away Company has three employees a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant Computer Programmer Administrator Regular earnings rate $3,110 per week $32 per hour $42 per hour Not applicable 1.5 times hourly rate 2 times hourly rate Overtime earnings rate Number of withholding allowances For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the Hifference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places. Consultant Computer Programmer Administrator Gross pay की Net pay की

NOT: Please explain how you solve it, and what formula you use

Answer 1

Break Away Company Determine the The total earnings of an employee for a payroll period.gross pay and the Gross pay less payroll deductions Computer Consultant Programmer Administrator Regular Earnings 3110 1280 1680 Overtime Earnings 960 840 Gross Pay 3110 2240 2520 Less:Social Security Tax 186.6 134.4 151.2 Medicare Tax 46.65 33.6 37.8 Federal Income Tax Withheld 666.02 442.02 540.02 899.27 610.02 729.02 Net Pay 2210.73 1629.98 1790.98 Overtime Earnings: Programmer = 20 x 1.5 x 32 = 960 Administrator = 10 x 2 x 42 = 840 Withholding Allowance Calculation: Computer Consultant Programmer Administrator 3110 2240 2520 1 70 Gross Pay Number of Witholding Allowances Multiplied by:Value of one allowance Amount to be deducted Amount subject to Withholding Initial Witholding from wage bracket 210 2900 1796 1104 356.9 309.12 666.02 70 140 2100 1796 304 356.9 85.12 442.02 70 70 2450 1796 654 356.9 183.12 540.02 Initial Witholding Plus:Bracket Percentage Amount Witheld (2900 - 1796 ) x 28% = 309.12 (2100 - 1796 ) x 28% = 85.12 (2450 - 1796 ) x 28% = 183.12